Despite COVID-19, Lincoln housing market remains steady

As the coronavirus impacts the economy, realtors say that the housing market is still doing well in the Capital City.
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As the coronavirus impacts the economy, realtors say that the housing market is still doing well in the Capital City.
“It just continues to be a strong seller’s market,” says Mark Faatz, Capital City Realty for Woods Brothers Realty.

Faatz says even though COVID-19 has made a huge impact on Lincoln, the housing market continues to be a hot commodity. For homeowners who may be struggling, he suggests pausing your payments.

“During this time there is forbearance,” says Faatz. “If people have an existing mortgage. So, there is help and assistance there in the form of forbearance that will last approximately 90 days.”

As for apartments, a Lincoln manager says technology and social distancing is key.

“If they want to do a virtual tour we’ll send them a video of the apartment or we do a self showing where the manager will go in unlock and sanitize it says Stephanie Ponce, for Krueger Development. “The prospective tenant can go in and take a showing.”

Ponce adds she does see that some are selling their homes during this time or waiting to take that next homeowner step.

“We see a lot of people that are selling their house or moving and just need a short term,” says Ponce. “Some of them wanted to build and just haven’t started the process.”
And for those looking to sell their home, Faatz suggests wearing masks, gloves, and paper boots during showings and only to do so with vetted home buyers.
“One of the other things a homeowner can do when selling their home is to make sure the lights are on,” adds Fattz. “Leave as many doors open as possible on the property that way we reduce the amount of touchpoints that people have.”

Categories: Consumer News, Coronavirus, Health, Money